Russia-China trade up almost 30% in Q1 2017April 13, 2017 - 16:34 AMT PanARMENIAN.Net - Trade between China and Russia grew by nearly a third in the first quarter of the year, Russian media report citing Chinese Customs data. In the first three months of 2017, bilateral trade amounted to $18.1 billion. Chinese exports to Russia increased by 22.4 percent compared to the same period last year to $8.43 billion. Russian exports to China grew by 36.1 percent to $9.66 billion. In 2016, trade between Russia and China grew by 2.2 percent to $69.5 billion, as Chinese exports to Russia rose by 7.3 percent to $37.3 billion, while imports from Russia fell by 3.1 percent to $32.3 billion. In an interview with the Sputnik news agency last month, Zhang Xiao, the deputy to the Chinese ambassador to Russia, said Beijing expects a breakthrough in trade between the countries this year. "After a downturn in 2015 due to external factors, Russia-China trade returned to growth in 2016. Over the course of 2016, turnover between Russia and China reached $69.5 billion, a 2.2 percent increase against the previous year," Zhang Xiao said. While a 2.2 percent growth is not significant, it is very important considering the unfavorable conditions in the global economy and a decrease in Chinese foreign trade volumes, he said. Besides trade, Russia and China also have a number of investment projects. The countries are jointly building the Power of Siberia gas pipeline and a liquefied natural gas (LNG) facility on the Yamal Peninsula in the Russian Arctic. The countries are also working on a wide-body passenger jet to rival Airbus and Boeing and several other projects. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |